i think randy offers custom mounts to bolt a 1jz into a pre89 subframe, doesnt he?
personally i would go with the 1jz over the 2jz, primarily for the costs involved. if you go 1jz, you should be able to make a dent in the cost by parting out all of your 7m parts that are still good.
as for the displacement issue, its kindof up in the air i think. there are several guys running around with basic mods on the stock 1jz turbos putting out more horsepower AND torque than a similar 7m.
if my 7m ever spins a bearing im goin to sell the car and get an sc300/400 and do the 1jz swap into there